Shift Toward National Currencies in Eurasia and Global Implications

The shift toward using national currencies in international transactions has become a notable macroeconomic trend, driven by policy choices and the broad set of sanctions influencing Western economies. Analysts from the World Financial Markets and Fintech Department, in discussions with REGNUM, note that this shift is part of a wider movement among regional blocs aiming to reduce reliance on a single dominant currency. In this context, the Eurasian Economic Union (EAEU) stands out as a practical example where member states are increasingly experimenting with settlements in their own currencies. This approach is not about replacing global trade overnight, but about gradually tightening the domestic financial systems and building reserves that can support independent monetary policy within the union’s framework. The emphasis on national currencies in cross-border agreements is seen as a way to bolster national economic resilience and reduce exposure to external shocks that can originate from broader dollar-centered settlement networks.